Trusts
(All Types) & Probate
A well-designed estate plan, which includes a living trust and pour-over wills,
will save you the time and cost of probate, as well as substantial amount of
estate taxes. It is recommended that every Californian that owns real estate
should have a living trust. Our firm offers complete estate planning service,
including Living Trusts as well as Trust Administration & Probate.
The most common form of trust is a “Revocable Living Trust.” We call this the very foundation of Estate
Planning, and thus every family should have one. For advanced planning, we offer techniques such
(1) Irrevocable Trust, (2) Life Insurance Trust, (3) private family
foundations, and (4) Business entities (see below). We review the client’s situation and then
discuss the best option for the Client.
Tax Planning & IRS Practice
Using strategies that big law firms utilize to reduce their high net-worth
clients’ taxes, we now offer the very same strategies to our clients. The U.S.
tax law strongly favors entrepreneurs and real estate. Mr. Leung has extensive
experience in helping clients to lower their income and capital gains tax
burden, using corporate entities and trusts. The savings for a typical client
is substantially more than the fees that Mr. Leung charges.
Did you know that not even bankruptcy can discharge tax debt to the IRS?
If you truly cannot pay your taxes dues, we negotiate with the IRS on Client's
behalf to settle those pesky tax problems so your wages and bank account won't
be garnished. Dealing with the IRS required experienced and knowledgeable
attorney who can get you results. We have certainly obtained very
satisfactory results for our Clients. Please inquire.
Education & Financial Aid
Due to the skyrocketing cost of a college education, we provide tax planning
advice to Clients that will have children in college during the next several
years. It is virtually impossible to "save" for college when
the cost of a a public "UC" school is $30,000 per year (private
schools costs $55,000). What can a family do, especially when it have two
or three children? With diligent Tax
Planning families still can obtain Financial Aid. Please contact us.
Real
Estate Law
We offer comprehensive array of services including contract negotiations and
dispute. Recently, with the downturn in real estate market, we represent
Homeowner Clients to negotiate with banks in "underwater" and
"short-sale" properties. Our concern is the bank and the
homeowner can reach a legal settlement related to any "underwater"
amount so the banks cannot pursue the Client.
Furthermore, we provide advice to Clients to ensure the IRS will not pursue the
homeowner for any "cancellation of debt" income arising from a
short-sale or a foreclosure. Sometimes, banks will pursue the homeowner
even after a "short-sale." Yes,the whole process is
complicated and homeowners are well-advised to seek experienced legal counsel
such as our firm.
Corporations & LLC's
Using corporate entities such as S Corp., LLC, and non-profit is practical for savings taxes and protecting your assets. Moreover, non-profit organizations such as private family foundations can further your charitable intent.
And when you are ready to sell after building great value, we help clients negotiate buy-sell agreement, with emphasis on minimizing tax while protecting your interest.